Read the case study and answer the questions that follow:

Ferrari is among the worlds leading luxury brands focused on the design, engineering, production, and sale of the worlds most recognizable luxury performance sports cars. The Ferrari brand symbolizes exclusivity, innovation and style. Ferrari strive to maintain and enhance the power of the brand and they inspire their clients and the broader community of automotive enthusiasts by continuing rigorous production and distribution model, which promotes hard-to-satisfy demand and scarcity value in Ferrari cars. (Ferrari, 2016).

1. Classify Ferrari according to the consumer product classifications. Give reasons for your answer. (4)

2. Discuss the marketing distribution channel that would be most appropriate for Ferrari. Give reasons for your answer (4)

3. Discuss the pricing strategy and pricing objectives that would be most appropriate for Ferrari. Give reasons for your answer (8)

4. Discuss the TWO elements of the marketing communications mix that would be MOST appropriate for Ferrari. Give reasons for your answers. (8)

5. Using the theory on product levels in chapter 8, explain at least THREE features that would be appropriate for Ferrari's potential product? (6)

6. What stage of the product life cycle are Ferrari cars? Give reasons for your answer (2)

7. Explain THREE strategies that Ferrari marketers could implement in order to boost sales at this stage of the product life cycle. You MUST apply your answers specifically to Ferrari. (6)